Realtor.com has monthly and weekly data on the existing home market. Here is their weekly report from economist
Danielle Hale: Weekly Housing Trends View — Data Week Ending June 24, 2023• Active inventory growth stalled completely, with for-sale homes lagging behind year ago levels for the first time in 59 weeks. As mortgage rates surged in 2022, buyers saw costs soar, and a large number of shoppers reoriented their housing plans. The time it took to sell a home lengthened and the number of homes for sale piled up. Flash forward a little more than a year, and this week, the number of homes actively for sale slipped compared to a year ago. The decline was slight–it actually rounds to zero–but it is notable in that it highlights a key reason why despite high costs home prices have not budged much.
• New listings–a measure of sellers putting homes up for sale–were down again this week, by 29% from one year ago. The number of newly listed homes has been lower than the same time the previous year for the past 51 weeks–nearly a whole year. And this week’s data shows an even larger gap.Here is a graph of the year-over-year change in inventory according to realtor.com.
Inventory is down 0.3% year-over-year – this was the first YoY decrease in 59 weeks (since May 2022).